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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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do you have to pay inheritance tax if you sell a property let

Resolved Question:

do you have to pay inheritance tax if you sell a property let to you in a will to a member of your family
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
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It is the Estate that is liable for Inheritance Tax - although you might have to pay for a share of it if the bequest to you was made on the basis that you had to pay the share of the tax attributable to the property.
When you sell the property then you may be liable for Capital Gains Tax for any increase in the value between the time you Inherited the property and the time you sell it
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